Paysign, Inc. (NASDAQ:PAYS) CEO Mark Newcomer Sells 168,000 Shares

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) CEO Mark Newcomer sold 168,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $4.51, for a total value of $757,680.00. Following the sale, the chief executive officer now directly owns 8,768,886 shares in the company, valued at approximately $39,547,675.86. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Mark Newcomer also recently made the following trade(s):

• On Monday, June 2nd, Mark Newcomer sold 307 shares of Paysign stock. The stock was sold at an average price of $4.50, for a total transaction of $1,381.50.

Paysign Price Performance

Shares of PAYS traded up $0.22 during trading hours on Friday, reaching $4.93. 264,260 shares of the company's stock traded hands, compared to its average volume of 227,400. The firm has a market capitalization of $267.29 million, a price-to-earnings ratio of 32.87 and a beta of 0.23. The business's fifty day simple moving average is $2.88 and its two-hundred day simple moving average is $2.86. Paysign, Inc. has a twelve month low of $1.80 and a twelve month high of $5.59.

Paysign (NASDAQ:PAYS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. Paysign had a net margin of 14.28% and a return on equity of 30.64%. The firm had revenue of $18.60 million for the quarter, compared to analysts' expectations of $17.49 million. On average, equities research analysts expect that Paysign, Inc. will post 0.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Barrington Research reiterated an "outperform" rating and set a $7.00 price target on shares of Paysign in a research report on Wednesday, March 26th. LADENBURG THALM/SH SH increased their price objective on shares of Paysign from $7.25 to $8.25 and gave the stock a "buy" rating in a report on Friday, May 9th. Lake Street Capital raised their price target on shares of Paysign from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, DA Davidson raised their price target on shares of Paysign from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th.

Hedge Funds Weigh In On Paysign

Several hedge funds have recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in Paysign by 33.5% during the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company's stock worth $47,000 after acquiring an additional 3,895 shares during the period. Rhumbline Advisers grew its stake in shares of Paysign by 13.7% in the 4th quarter. Rhumbline Advisers now owns 44,284 shares of the company's stock worth $134,000 after purchasing an additional 5,339 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Paysign by 31.3% in the 4th quarter. Bank of New York Mellon Corp now owns 94,515 shares of the company's stock worth $285,000 after purchasing an additional 22,548 shares during the last quarter. Bard Associates Inc. grew its stake in shares of Paysign by 19.7% in the 4th quarter. Bard Associates Inc. now owns 33,450 shares of the company's stock worth $101,000 after purchasing an additional 5,497 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Paysign in the 4th quarter worth approximately $78,000. 25.89% of the stock is currently owned by institutional investors and hedge funds.

About Paysign

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.